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1.1 Why are information systems so essential for running and managing a business today?
1.2 What exactly is an information system? How does it work? What are its people, organizational, and technology components?
1.3 How will a four-step method for business problem solving help you solve information system-related problems?
1.4 What information systems skills and knowledge are essential for healthcare careers?
1.5 How will IS help my career?
1.1. You will NOT learn how to use an information system or ERP System
1.2. We only touch upon theory from time to time. This is a practical course :-)
1.3. You will NOT learn how to customize off-the-shelf ERP Systems
background-image:url(https://media1.giphy.com/media/XgE4LlECZjw6k/giphy.gif)
.fl.w-third[ Enterprises ]
.fl.w-third[ Resources ]
.fl.w-thirdPlanning
.content-box-blue[
]
.columns-2[ .content-box-army[ Old Economy:
- Physical Goods
- Protection of IP
- Local Recombination of Physical Goods
- Economies of Scale
- Linearity]
.content-box-yellow[ New Economy:
- Virtual Goods
- Sharing of Ideas
- Global Real-time Collaboration
- Network Effects
- Complexity]
]
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Industrial Age: Technology has fundamentally changed business. __Information Age:__ Production, distribution, control of information primary economic drivers. *Digital Transformation: New forms of work and value creation emerge.
.content-box-gray[WHAT’S NEXT?!]
####Bell’s Law
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| ## Gartner Hypecycle |
| ??? |
| Understanding the Hype Cycle Hype Cycle History DataSet 1995-2020 |
???
Source: Karl Rupp - GitHub Repo
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1-1 Why is Introduction to MIS the most important class in the business school?
Network value equal to square of number of users connected to it.
Figure 1-2 Increasing Value of Networks
Bell’s Law: Today’s highly successful business could be bankrupt quickly because technology changed and it didn’t.
Example: Blockbuster * In 2004, Blockbuster had $5.9B in revenues * In 2010, Blockbuster filed for bankruptcy * High-speed network connections and streaming video changed the competitive landscape
.content-box-gray[ - Which other industries have been strongly affected by Digital Transformation? - Which Industries may suffer from the spread of Quantum Computing and AI?]
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.fl.w-third[ New technologies - Artificial intelligence - Cloud computing, Big Data, Internet of Things - Mobile digital platform]
.fl.w-third[ Management - Return on investment (ROI) - Online collaboration - Social networking]
.fl.w-third[ Organizations - Security and privacy - Social business - Telework gains]
???
In our current environment the key challenges for Management Information Systems are in coping with new technologies, (performance) Management, and organizing IT Systems. Due to the rapid and somewhat forced virtualization of all enterprises these are almost identical to General Management Challenges. The question arises if there is a substantial difference between General and IS Management at the moment and also in the future.
Internet and global communications have greatly reduced economic and cultural advantages of developed countries.
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| ## Business Drivers of Information Systems |
| Businesses invest in IT to achieve six important business objectives. |
| - Operational excellence - New products, services, and business models - Customer and supplier intimacy - Improved decision making - Competitive advantage - Survival |
???
If managers rely on forecasts, best guesses, and luck, they will misallocate employees, services, and inventory.
Real-time data improves ability of managers to make decisions.
Verizon: web-based digital dashboard to update managers with real-time data on customer complaints, network performance, and line outages
Information technology: the hardware and software a business uses to achieve objectives
Information system: interrelated components that manage information to:
Data: streams of raw facts
Information: data shaped into meaningful, useful form
Activities in an information system that produce information:
Sharp distinction between computer or computer program versus information system
.fl.w-third[ ### Organizations - Coordinate work through structured hierarchy and business processes - Business processes: related tasks and behaviors for accomplishing work ]
.fl.w-third[ ### People - Information systems require skilled people to build, maintain, and use them. - Employee attitudes affect their ability to use systems productively. ]
.fl.w-third[ ### Technology * IT Infrastructure: Foundation or platform that information systems are built on * Computer hardware * Computer software * Data management technology * Networking and telecommunications technology ]
| ## CRITICAL THINKING: <br > In the Digital Age, do these statements hold true? |
| ### Statement on Organizational Structure > Coordinate work through structured hierarchy and business processes |
| ### Statement on Management > Role of managers: - Perceive business challenges - Set organizational strategy - Allocate human and financial resources - Creative work: new products, service |
Problem solving: four-step process * Problem identification * Solution design * Choice * Implementation
| ## Solution design * Often many possible solutions * Consider as many as possible to understand range of solutions |
|---|
| ## Solution Evaluation and Choice – factors include: * Cost * Feasibility given resources and skills * Length of time needed to implement solution |
Maintaining doubt and suspending judgment
Being aware of different perspectives
Testing alternatives and letting experience guide
Being aware of organizational and personal limitations
When firms cannot achieve business objectives these objectives become challenges.
Information systems often present solutions, partially or fully, to these challenges.
.panelset[
.panel[.panel-name[Accounting] Accountants increasingly rely on information systems to summarize transactions, create financial records, organize data, and perform financial analysis.
Skills:
- Knowledge of databases and networks
- Online financial transactions and reporting systems
- How systems are used to achieve accounting functions
]
.panel[.panel-name[Finance] Relationship between information systems and financial management and services is so strong that many advise finance majors to co-major in information systems.
Skills:
- Use systems for financial reporting, direct investment activities, implementation of cash management strategies
- Plan, organize, implement information systems strategies for the firm
]
.panel[.panel-name[Marketing] No field has undergone more technology-driven change in the past five years than marketing and advertising.
Skills:
- Work with databases for tracking and reporting on customer behavior, product performance, customer feedback, product development
- Enterprise systems for product management, sales force management, customer relationship management
]
.panel[.panel-name[Operations] Operations management in services and manufacturing: Production managers, administrative service managers, and operations analysts
Skills:
- Hardware and software platforms for operations management
- Use database and analytical software for coordinating and optimizing resources required for producing goods and services
]
.panel[.panel-name[Management] The job of management has been transformed by information systems. Impossible to manage business today without information systems
Skills:
- Use of information systems for each function of job, from desktop productivity tools to applications coordinating the entire enterprise
]
.panel[.panel-name[Information Systems] Fast changing and dynamic profession because information technologies are among most important tools for achieving business firms’ key objectives. Domestic and offshore outsourcing
Skills:
- Uses of new and emerging hardware and software to achieve six business objectives
- An ability to take a leadership role in the design and implementation of new information systems
]
.panel[.panel-name[Outsourcing] Two types: outsourcing to domestic U.S. firms and outsourcing to low-wage countries such as India, China. Production programming, system maintenance, call centers
Benefits: - Lower cost of building and maintaining systems within U.S. or Europe - Increased need for managerial positions ] ]
20:00
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.question[ - Identify the problem described in this case study. In what sense is it an ethical dilemma?]
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.question[ - Should more tasks be given to AI? Why or why not? Explain your answer.]
–
.question[ - Can the problem of AI reducing employment be solved? Explain your answer.]
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EXCERCISE
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60:00
PREPARATION
Skim-read, get the essentials, prepare discussion.
Laudon & Laudon (2020), ** Essentials of Management Information Systems**
Fourteenth Edition, Global Edition.
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This week: Chapter 1 | Pages: 33-63 ] ]
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